[ANN] The N.E.W.S. Asset launch
@Dillion thats the spirit :) and it shows that you really want to do an asset ;) as all thing in life respect is hard earned, easy to loose but when you have it, it helps a lot :)
@bandarfjb I did however no one liked my original idea and it was pinned for being a scam because I am so new. So I learned from it changed it up a little bit and went on and started it. If no one were to ever buy into it I wasn't going to let that bother me and just keep running it for myself and my g/f. Anyway quite a few people have bought shares. Since I am so new my first goal is to build a solid a record and let my actions and asset wallet speak for themselves.
Thank you for your response! Good luck for your asset and I wish you can success to build a solid reputation.
First thing @Dillion I want to thank you for your offer to salvage something from NEWS...classy move and I wish you the best of luck moving forward.
One thing that I really find frustrating here is that I noticed that the remaining NEWS shares of BB Browser seem to have been sold from the NEWS account at 5 BURST each...picked up by the whale we have all come to know with address ending 5NFHJ. For a while at least it seemed the community was aware what Jervis was doing and no purchases were made at Jervis' asking price. Even when it went to 5 at first I did not notice a rush to buy...I thought it was good that the community was doing its part, regulated or not, to send a message to Jervis that his scam was over and he would make no further gains here.
Now the whale has bought those remaining shares at 5 and is attempting to sell starting at 45 each and up. Under normal circumstances one would say "oh well, he's got money to spend, that's the way this works..."; given though with certaintity that this whale 5NFHJ knows what Jervis and NEWS did to so many investors in this community I think it is a real piece-of-shit move on his (or her) part...full stop.
I recall there was some discussion a few weeks ago about trying to find a way to stop Jervis from making anymore BURST off his scam as possible but it seemed to go nowhere...in the case above I know it would have mostly relied on BB Browser to agree and sort something out but their presence here is about as active as Jervis himself in the end (less actually as I noticed NEWS paid another token dividend yesterday...last time BB Browser was here was over 2 weeks ago). Still, I think it would have been decent if some way had been found to halt these sales (or at least nullify their value for example like the recent Burst4All and tokens exchange example) , salvaging something for NEWS shareholders.
I suspect the whale is going to learn soon that the BB Browser he bought even at 5 was probably over-priced in the end; it still means though that he facilitated, with Jervis in full scam mode, the stealing of another 225.000 BURST from shareholders. I would like to think there can eventually be put in place some kind of mechanism to handle situations like the above; it will though require active participation from both asset issuers and the community of investors. We all invest here knowing the risks; but whan a scam is known and is actively taking place in front of our eyes there should be something that can be done. For now we will all have to rely on our own moral compasses I suppose...
@AndrewDD you are using emotions where they do not belong. Asset exchange is like stock market its an entity where buisness is done. Scam ot no scam each asset is its own and not responsible for what other assets do. Same with investors.
@LithStud I guess you missed my point then...not debating that, I am debating something called a moral compass and what is right in the end. Stock market has regulations also to prevent things like this happening.
@AndrewDD but your suggestion was within lines of do a share swap because someone is selling your shares. So you see where thats not practical as you expect someone else to fix investement gone wrong.
@LithStud That was just an example at an effort made, was not my end-all solution or cure for the problem. And asking for assistance from a community of people to help correct a wrong is not a bad thing either...
@AndrewDD yes its not bad, but since its decentralized except dont buy what else can be done? You wont wait forever not buying asset you want just because there are shares sold by the scammer (hell dedicated scammer would just send those shares all over the place and in the end still sell them), you cant take out shares from blockchain either (and i personaly would be against it as it opens all new horizons in cheating, griefing and scamming).
@LithStud I understand what you are saying, but the block chain can catch that activity as well. I am not talking about regulating "the normal ebb and flow" of market activity here. Further, although we can all be proud of this decentralized marketplace I think we need to be sure that we do not allow it to degrade into too much of a "wild west show" that it ends up being a marketplace of 1500 Assets with only a handful of Buyers. Mass adaptation will eventually require a bit of control or protection; people need to know that there is risk in investing but at the same time there needs to be some common sense controls injected here as well. There is a difference between an Asset failing on fundamentals or because of a scam.
In the case of BB Browser, it rightfully appears that no one seems to want that Asset anyways so it was purely speculation on the part of 5NFHJ to even buy at 5. Main point is that 225.000 more Burst went into the pocket of Jervis and his scam at a time when everybody knows what is happening. That is the part where your average investor/crypto newbie will flee and go somewhere else.
Are we ready to consider this a scam and not concerned? What do you guys think